Valley National Correlations

VLYPP Preferred Stock  USD 25.14  0.22  0.88%   
The current 90-days correlation between Valley National Bancorp and Capital One Financial is 0.43 (i.e., Very weak diversification). The correlation of Valley National is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Valley National Correlation With Market

Average diversification

The correlation between Valley National Bancorp and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Valley National Bancorp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Valley National could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Valley National when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Valley National - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Valley National Bancorp to buy it.

Moving together with Valley Preferred Stock

  0.73EBMT Eagle Bancorp Montana Fiscal Year End 28th of January 2025 PairCorr
  0.71ECBK ECB BancorpPairCorr
  0.74CFG-PH Citizens Financial Group,PairCorr
  0.69KEY-PJ KeyCorpPairCorr
  0.83KEY-PK KeyCorpPairCorr
  0.85KEY-PL KeyCorpPairCorr
  0.67ESSA ESSA BancorpPairCorr
  0.63TFINP Triumph FinancialPairCorr
  0.71EVBN Evans BancorpPairCorr
  0.75WSBCP WesBancoPairCorr

Moving against Valley Preferred Stock

  0.91FRCCL First Republic BankPairCorr
  0.91FRCHL First Republic BankPairCorr
  0.91FRCKL First Republic BankPairCorr
  0.91FRCML First Republic BankPairCorr
  0.87FRCLL First Republic BankPairCorr
  0.86FRCIL First Republic BankPairCorr
  0.61SBNYL Signature BankPairCorr
  0.57WBBW Westbury BancorpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BAC-PNCOF-PI
SCAXFBAC-PN
LBHIXMSTSX
SCAXFCOF-PI
LBHIXABHYX
SCAXF444859BR2
  
High negative correlations   
LBHIX444859BR2
MSTSX444859BR2
MSTSXBRRAY
SCAXFLBHIX
ABHYXBRRAY
BRRAYBAC-PN

Risk-Adjusted Indicators

There is a big difference between Valley Preferred Stock performing well and Valley National Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Valley National's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Valley National without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Aroon Oscillator Now

   

Aroon Oscillator

Analyze current equity momentum using Aroon Oscillator and other momentum ratios
All  Next Launch Module

Valley National Corporate Management